Financial Energy Review
by Abisoye Shola
The move by ExxonMobil to kick off the building of a multi-million dollars petrochemical plant in post coronavirus China has raised hopes that countries with the right enabling environment after this global pandemic will experience fast economic recovery.
The $10 billion petrochemical plant were some of the planned foreign investment pre-coronavirus in china. Accordingly China has also vow to rigorously pursue and complete most of her investment in Africa and Nigeria in particular post coronavirus pandemic.
According to ExxonMobil the construction on of it’s $10 billion petrochemical complex will be in south Chinese city of Huizhou.
The complex, ExxonMobil explained will consists of a 1.6 million tonnes per year ethylene facility and it is one of the few mega petrochemical projects in China wholly owned by a foreign investor.
